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Apple, Microsoft Group Wins Approval to Buy Nortel Patents

Apple Inc. and Microsoft Corp., in a joint venture called Rockstar Bidco LP, won court permission to buy the patent portfolio of Nortel Networks Corp. for $4.5 billion after outbidding Google Inc. in the biggest patent auction in history.

In a joint hearing today, U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware, and Ontario Superior Court Judge Geoffrey Morawetz in Toronto approved the sale of more than 6,000 patents and applications related to wireless and Internet technology.